Fifth Third Bancorp (FITB) FY2018 results: revenue $6.9 billion, down 1.3% on the year
Fifth Third Bancorp (FITB) reported revenue of $6.9 billion for fiscal 2018, the year ended 31 December 2018, down 1.3% on the year before. Net income was $2.2 billion, up 0.6%, and diluted earnings per share $3.06. The figures are the company's own, from the 10-K it filed with the SEC on 1 March 2019.
Revenue
$6.9 billion
-1.3% on the year
FY2011FY2018
Operating margin
n/a
FY2011FY2018
Net income
$2.2 billion
+0.6% on the year
FY2011FY2018
Diluted EPS
$3.06
+8.9% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
6,930
7,022
6,311
-1.3%
Interest expense
1,043
691
578
+50.9%
Pre-tax income
2,765
2,979
2,208
-7.2%
Income tax
572
799
665
-28.4%
Effective tax rate
20.7%
26.8%
30.1%
Net income
2,193
2,180
1,543
+0.6%
Net margin
31.6%
31.0%
24.4%
Diluted EPS
$3.06
$2.81
$1.93
+8.9%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
2,856
1,480
2,091
+93.0%
Capital expenditure
192
200
186
-4.0%
Free cash flow
2,664
1,280
1,905
+108.1%
Cash from investing
-4,141
428
n/a
Cash from financing
1,452
-1,786
n/a
Depreciation and amortisation
360
341
453
+5.6%
Share-based compensation
127
118
111
+7.6%
Buybacks
1,453
1,605
661
-9.5%
Dividends paid
467
430
402
+8.6%
Dividend per share
$0.74
$0.60
$0.53
+23.3%
Diluted shares, weighted
685m
741m
764m
-7.5%
Shares outstanding at period end
647m
694m
750m
-6.8%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
16,250
16,200
16,205
+0.3%
Non-controlling interest
0.0
20.0
27.0
Deposits
108,835
103,162
103,821
+5.5%
Debt
16,924
19,090
18,055
-11.3%
Other liabilities
4,060
3,721
4,069
+9.1%
Total liabilities and equity
146,069
142,193
142,177
+2.7%
Fixed assets
1,861
2,003
2,065
-7.1%
Goodwill
2,478
2,445
2,416
+1.3%
Intangible assets
40.0
27.0
9.0
+48.1%
Securities held for sale or to maturity
18.0
24.0
26.0
-25.0%
Loans
94,162
90,774
90,845
+3.7%
Trading assets
287
492
410
-41.7%
Cash and equivalents
2,681
n/a
n/a
Other assets
44,542
46,428
46,406
-4.1%
Total assets
146,069
142,193
142,177
+2.7%
10-K for the year ended 31 December 2018, filed 1 March 2019: the filing.